Income under house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 August 2013
Mr. A has given his house on lease for the period of 3 years.He received Rs.12 lac as a consideration for 3 years.He is required to return 12 lac i.e. without any interest to lessee after lease period.(there is no monthly rent system)
What should be gross annual value in this case?
What should be gross annual value in this case?
25 August 2013
In such case income from such amount investment is considered as gross annual letout value.
Assume if you invested such amount in FD for earning 12% p.a for 3 years period then such interest amount of Rs.1,44,000 shall be the GAV.
OM SAI SRI SAI JAI JAI SAI
Assume if you invested such amount in FD for earning 12% p.a for 3 years period then such interest amount of Rs.1,44,000 shall be the GAV.
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 August 2013
Jai Sri Sai
But if rent for similar type of flat is 15000 pm in that market then what should be gross annual value?
Could you provide any relevant case law or provision for ur answer.
But if rent for similar type of flat is 15000 pm in that market then what should be gross annual value?
Could you provide any relevant case law or provision for ur answer.
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